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Showing 1191 - 1200 of 2662 results for "SEPA"

Fees for no service an old issue: AMP

DARREN SNYDER  |  FRIDAY, 4 MAY 2018
Responding to Royal Commission findings, AMP says its fees for no service issue is old news; preparation of a Clayton Utz report into the issue has been overstated; and its misleading representations to ASIC have also been overstated. The 28-page response ...

NAB to sell MLC

HARRISON WORLEY  |  THURSDAY, 3 MAY 2018
NAB has announced it will begin the sale of its MLC Advice, Platform and Superannuation and Asset Management businesses, as part of its plan to focus on core banking. The bank announced the decision as part of a strategy overview during its half-year ...

Uncertainty abounds future of advice regulation

JAMIE WILLIAMSON  |  TUESDAY, 1 MAY 2018
Testimony provided to the Royal Commission by key financial advice associations and the corporate regulator raised concerns as to the organisations' efficacy in identifying and penalising misconduct. In closing the Royal Commission's inquiry into financial ...

RC suggests separating platforms and advice licensees

ALEX BURKE  |  MONDAY, 30 APR 2018
One of the key points made by Senior Counsel Assisting Rowena Orr at the end of the financial advice Royal Commission was that vertical integration of advice licensees and platform providers carries systemic risk. Orr said that licensees using approved ...

ANZ, NAB bottom lines take a hit

KARREN VERGARA  |  TUESDAY, 24 APR 2018
ANZ and NAB painted a bleak profitability outlook for shareholders, flagging massive losses ahead of their 2018 half-year reporting period in early May. ANZ will incur a loss of $632 million from the sale of its life insurance, and pensions and investments ...

Praemium appoints managed accounts expert in new role

JAMIE WILLIAMSON  |  MONDAY, 23 APR 2018
Praemium has expanded its leadership team with a newly-created role, recruiting from a competitor. Praemium will welcome Steve Thomas in May, taking on the new position of manager of self-invested and international solutions. Thomas joins Praemium from ...

ROYAL COMMISSION: Top stories

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
Missed something? Here's a recap of the most read stories to come out of the first week of the Royal Commission's inquiry into financial advice. AMP admits to serious misconduct in RC submissions AMP acknowledged hundreds of instances of misconduct ...

Blue Sky funds downgraded after profit revisions

ALEX BURKE  |  FRIDAY, 20 APR 2018
Two Blue Sky funds have been rated "unapproved" and "low investment grade" by SQM Research after the manager conceded it had fallen short of shareholder expectations. Blue Sky's Alternatives Access Fund was downgraded to 3.25 stars and recommended as ...

Dead advice clients slugged ongoing service fees

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
The Commonwealth Bank has admitted one of its advice subsidiaries charged ongoing service fees to clients it knew had passed away. Providing testimony to the Royal Commission today, CBA executive general manager, Commonwealth Private Marianne Perkovic ...

ASIC hits former NAB adviser with permanent ban

ALEX BURKE  |  WEDNESDAY, 18 APR 2018
ASIC permanently banned an adviser who worked for a NAB-aligned licensee for about a decade. Grant Taylor was the principal of TFG Advice Solutions, an authorised representative of NAB-owned GWM Adviser Services, from 2003 to 2013. During that time ...